Category Archives: Bitcoin Updates
23rd November, 2017, Gibraltar – Globitex, the new bitcoin exchange co-founded by early bitcoin adopter and former Executive Director and a Founding Board Member of the Bitcoin Foundation Jon Matonis, marks a significant milestone in its journey to make bitcoin a truly global currency of settlement. Globitex Holding (Latvia) group company NexPay UAB has been granted an e-money license (EMI) by the Bank of Lithuania to carry out payment services and e-money issuance in the EU. This opens a series of doors for Globitex exchange, enabling it to take an important step closer to its goal of dramatically increasing bitcoin trading volumes in order to facilitate its use right across the spectrum of commodity and money markets. Current operating entity of the Globitex bitcoin exchange is a UK-based Globitex group company.
Bitcoin: currency of global settlement
Whilst bitcoin is currently making new highs, there is still the fundamental economic issue that order-book depth and liquidity cannot support very large trades. Although bitcoin offers enormous advantages for international settlement due to its speed and low cost compared to legacy money transfer services, it cannot yet serve as a currency of international trade settlement across the world’s financial markets.
Globitex Chairman and Founding Director of Bitcoin Foundation, Jon Matonis, stated:
‘I look forward to this evolution of digital currency trading platforms that ensure futures contracts with a physical delivery component. Strong connection to the spot markets, including contract limits and physical delivery that is linked to provisioned commodities, will serve as the market standard for price integrity.’
The aim of Globitex is to facilitate entry into the bitcoin market for a new generation of customers, both retail and institutional-level traders, enabling the increase in value and stability that will allow commodities like crude oil, gold, coffee and other financial instruments to be priced directly in bitcoin.
Acquisition of the EMI licence brings with it the possibility of integrating with the SEPA euro payments system directly through the Central Bank of Lithuania. This will enable NexPay to clear euro payments directly, without the involvement of commercial banks, and to issue IBAN accounts to Globitex clients just like banks issue accounts to clients. This is a huge step forward in terms of accessibility.
The regulatory green light for the EMI licence is a leap forward in the development of the bitcoin and broader cryptocurrency industry. This sets a new level of legitimacy for cryptocurrency overall, moving towards widespread adoption.
Crucially, the newly-issued EMI licence is fully ‘passportable’ to all other EU member states, allowing NexPay to provide clients with payment services and e-money issuance across all 28 countries.
Liza Aizupiete, Managing Director of Globitex, reflects:
‘Globitex is looking to set new cryptocurrency trading standards not only technologically, or by commodities-linked product offering, but especially in Globitex’s legal setup, ensuring safe passage to the digital age.’
GBX token sale
Globitex group is holding a token sale to fund the scaling of its existing exchange infrastructure into a commodities spot and derivatives exchange for bitcoin. The GBX utility token will be issued on the Ethereum blockchain. GBX will be used to pay trading fees and reward exchange users and liquidity providers.
The GBX token will be sold for the equivalent of EUR 0.10 in Bitcoin (XBT), Ether (ETH) and Bitcoin Cash (BCH), with significant discounts for early participants.
DoubleSpend: Billionaire Investor Mike Novagratz Says $10K BTC & $500 ETH By Year’s End
Source: Crypto Blood
A growing number of millennials are putting their savings into Bitcoin instead of traditional bank accounts, with 6 out of 10 respondents stating they have purchased Bitcoin in the last 12 months.
Out of the 10,000 millennials who were included in the survey conducted by https://coinspectator.com/, 70 per cent said they were unhappy with the interest rates offered on their savings accounts, and nearly 65 per cent said they felt their money was safer in Bitcoin, which they controlled, rather than it being controlled by a bank.
Recent banking figures show that savers receive just £10.06 billion of interest collectively when compared to the £1.3 trillion they were putting away. Bitcoin on the other hand has risen in price from approximately £550 in November 2016 to nearly £6,000 at the time of writing. With such lucrative profits up for grabs, millennials fear missing out not only on making high gains but also on the opportunity to support self sufficient banking that benefits the user directly.
Almost two-thirds of women said they have started to branch out from Bitcoin and diversify their portfolio by investing in other cryptocurrencies This comes as no surprise given women are often underpaid in the workplace in comparison to men, leading to them taking riskier investments to accumulate the same level of wealth.
Although millennials prefer saving in Bitcoin, just under half are also on the lookout for a more convenient banking system with 45 per cent stating they hoped their bank would integrate Bitcoin wallets so that they could invest directly in digital currencies through their current banking provider.
70 per cent were unhappy with the interest rate attached to their savings account, while 75 per cent felt they were being robbed of their money and not valued as a customer.
In the next five years the majority of millennials will put approximately two thirds of their savings into cryptocurrencies, resulting in a revolution among the younger generation who are financially savvy and independent of any centralised financial institution.
“The younger generation has been notoriously quicker to act on new technologies, including the latest smartphones, which have enabled millennials to invest in Bitcoin over the last few years, before large hedge funds and financial institutions started to get involved,” said Andrew Sung, founder of CoinSpectator.com.
With banks providing such low interest rates on customer savings, accounts are becoming a thing of the past for the younger generation. With Bitcoin, people have full control over their money, make far greater profits and above all can send money abroad with lower transfer fees.
Have you purchased Bitcoin in the last 12 months?
61% of respondents said Yes
29% of respondents said Considering
10% of respondents said They were unsure what Bitcoin is
Are you unhappy with the current interest rate offered by your savings account?
70% of respondents said Yes
20% of respondents said Unsure
10% of respondents said No
Have you also invested in other cryptocurrencies such as Ethereum?
66% of female respondents said Yes
35% of female respondents said No
75% of male respondents said No
25% of male respondents said Yes
Do you feel that your savings stored in Bitcoin is safer with you as opposed to keeping your savings in a bank account?
65% of respondents said Yes
30% of respondents said No
5% of respondents said Unsure
Would you like your bank to offer a Bitcoin savings account?
45% of respondents said Yes
35% of respondents said Unsure
20% of respondents said No
Do you feel that the bank is not valuing you as customer with such a low interest rate?
75% of respondents said Yes
21% of respondents said No
4% of respondents said Unsure
In the next 5 years how much money do you plan to invest into cryptocurrencies?
10% to 20% ( 5% of respondents clicked this box )
20% to 30% ( 8% of respondents clicked this box )
30% to 40% ( 9% of respondents clicked this box )
50% to 60% ( 21% of respondents clicked this box )
60% to 70% ( 45% of respondents clicked this box )
70% to 80% ( 5% of respondents clicked this box )
80% to 90% ( 4% of respondents clicked this box )
90% to 100% ( 3% of respondents clicked this box )
This survey was conducted online by CoinSpectator among 10,000 18-24 year olds between October 1st and October 31st 2017.
CoinSpectator is a real-time cryptocurrency news aggregator allowing traders, investors and enthusiasts to keep up-to-date with the latest news.
The Crypto Sniper: Short Time Frame $8370 for BTC, Alts thereafter?
Source: The Crypto Sniper
“Exactly right, there is only 1 real Bitcoin. For you to know which one it is, you need to go read the Bitcoin white paper, over and over again, and you compare that with what Core have done with their SegWit hack, and the intentional prevention of usability of their coin, and direct intention to force every user by high fees, into 3rd party side chains to be run by the bankers.
The only trash there is here is this impostor of Core’s Bitcoin… SegWit is not Bitcoin.
Bitcoin Cash is the real Bitcoin.” – Ed.
Bitcoin Cash – The Real Bitcoin has arrived!
Source of Image: BitcoinCash.org
Bitcoin Cash Radio Commercial on more than 150 Radio stations!
Source: Roger Ver
Roger Ver on Bitcoin Cash at the LA Bitcoin Meet Up Group on Nov 9th 2017
Source: Roger Ver
At approximately 4 pm EDT at block height 504031, the Bitcoin Cash (BCH) network successfully hard forked. The fork is a change to the decentralized currency’s consensus rules and aims to upgrade the network’s Difficulty Adjustment Algorithm (DAA).
Be sure to continue to read at the source: Bitcoin.com